Intech Investment Management LLC Lowers Stock Holdings in Prologis, Inc. (NYSE:PLD)

Intech Investment Management LLC lowered its stake in shares of Prologis, Inc. (NYSE:PLD) by 28.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,189 shares of the real estate investment trust’s stock after selling 7,654 shares during the quarter. Intech Investment Management LLC’s holdings in Prologis were worth $2,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLD. Valeo Financial Advisors LLC increased its holdings in Prologis by 182,067.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock valued at $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Capital World Investors raised its position in shares of Prologis by 1,252.9% during the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock valued at $973,834,000 after acquiring an additional 6,765,582 shares in the last quarter. Swedbank AB acquired a new stake in shares of Prologis during the first quarter worth $596,614,000. Alphinity Investment Management Pty Ltd acquired a new stake in Prologis during the first quarter worth about $465,659,000. Finally, Vanguard Group Inc. boosted its position in Prologis by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 120,945,384 shares of the real estate investment trust’s stock valued at $15,749,508,000 after purchasing an additional 1,460,229 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insider Activity

In other news, CIO Joseph Ghazal sold 5,200 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total transaction of $671,164.00. Following the sale, the executive now directly owns 13,187 shares in the company, valued at $1,702,046.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

Prologis Trading Up 0.9 %

Prologis stock opened at $126.63 on Tuesday. The stock has a market cap of $117.24 billion, a P/E ratio of 37.03, a P/E/G ratio of 3.36 and a beta of 1.07. Prologis, Inc. has a 12 month low of $96.64 and a 12 month high of $137.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $125.59 and its 200-day simple moving average is $118.50.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company posted $1.83 EPS. The business’s revenue was down 18.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Monday, September 16th. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLD. The Goldman Sachs Group lifted their price objective on shares of Prologis from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI increased their price target on Prologis from $124.00 to $128.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Morgan Stanley increased their price objective on shares of Prologis from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Wells Fargo & Company boosted their price objective on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, StockNews.com raised shares of Prologis from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prologis presently has an average rating of “Moderate Buy” and a consensus price target of $133.35.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.